Nidec Quality Control Scandals: Impact on Corporate Reputation
Nidec disclosed that changes were made to product materials, processes, and designs without customer approval, many involving parts used in household appliances .
Company Response:
No quality issues that immediately affect product functionality or safety have been identified
Regaining trust is the company's top priority
Investigation into accounting issues is proceeding as expected
Market Impact:
Nidec shares were battered but have since regained much of their decline
Stock removed from Nikkei 225 and Topix indexes
TSE may delist the company if internal management does not improve